Fortuna Mining (NYSE:FSM) Stock Rating Upgraded by Wall Street Zen

Fortuna Mining (NYSE:FSM) (TSE:FVI) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday.

Other research analysts also recently issued research reports about the stock. National Bankshares upgraded shares of Fortuna Mining from a “sector perform” rating to an “outperform” rating in a research note on Monday, November 24th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Fortuna Mining in a research report on Monday, December 15th. Finally, Scotiabank upgraded shares of Fortuna Mining from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from $10.50 to $11.00 in a research note on Monday, November 24th. Four analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Fortuna Mining has an average rating of “Hold” and an average target price of $9.50.

Fortuna Mining Stock Performance

NYSE FSM opened at $10.16 on Tuesday. The stock has a market cap of $3.12 billion, a PE ratio of 14.12 and a beta of 0.95. The company has a current ratio of 3.30, a quick ratio of 2.73 and a debt-to-equity ratio of 0.11. Fortuna Mining has a twelve month low of $4.13 and a twelve month high of $10.38. The stock has a fifty day simple moving average of $8.90 and a 200-day simple moving average of $7.90.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last posted its quarterly earnings data on Wednesday, November 5th. The basic materials company reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.08). The company had revenue of $246.75 million for the quarter, compared to analysts’ expectations of $242.19 million. Fortuna Mining had a return on equity of 12.42% and a net margin of 21.48%. Equities analysts anticipate that Fortuna Mining will post 0.51 earnings per share for the current year.

Institutional Trading of Fortuna Mining

Institutional investors and hedge funds have recently made changes to their positions in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in Fortuna Mining by 155.8% in the 1st quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 359,407 shares of the basic materials company’s stock valued at $2,186,000 after buying an additional 218,912 shares during the period. Campbell & CO Investment Adviser LLC boosted its holdings in shares of Fortuna Mining by 53.2% in the first quarter. Campbell & CO Investment Adviser LLC now owns 269,473 shares of the basic materials company’s stock valued at $1,644,000 after acquiring an additional 93,563 shares in the last quarter. Virtus Advisers LLC acquired a new position in shares of Fortuna Mining during the first quarter worth about $58,000. FORA Capital LLC purchased a new position in Fortuna Mining during the first quarter worth about $85,000. Finally, OMERS ADMINISTRATION Corp acquired a new stake in Fortuna Mining in the first quarter valued at about $176,000. 33.80% of the stock is owned by hedge funds and other institutional investors.

About Fortuna Mining

Fortuna Mining Corp. engages in the precious and base metal mining in Argentina, Burkina Faso, Mexico, Peru, and Côte d’Ivoire. It operates through Mansfield, Sanu, Sango, Cuzcatlan, Bateas, and Corporate segments. The company primarily explores for silver, lead, zinc, and gold. Its flagship project is the Séguéla gold mine, which consists of approximately 62,000 hectares and is located in the Worodougou Region of the Woroba District, Côte d’Ivoire. The company was formerly known as Fortuna Silver Mines Inc and changed its name to Fortuna Mining Corp.